Practising CA
33428 Points
Joined April 2009
Being Asset /Liability inherited from Husband.
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In a case where entries were not directly routed through the Capital Accounts -
IN THE BOOKS OF HUSBAND:
Transfer the Balance of Wife's A/c to H's Capital A/c so that it gets nullified.
IN THE BOOKS OF WIFE:
Transfer the Balance of HUSBAND's A/c to W's Capital A/c so that HUSBAND's A/c gets nullified.
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